Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Thursday, the 21st of March.
March Madness, May Really Be, March Madness
The NCAA basketball "March Madness" season starts today at noon, ET, however the March madness I am referring to has nothing to do with basketball.
The events in Cyprus and the ramifications it could have for the rest of the EU could be chaotic. Suddenly, there are no adults in the room, and once again we are seeing Russia jump into the fray with all kinds of loan deals, gas deals and donkey deals. How does all this Russian input complicate Cyprus? In my opinion, it presents a massive complication as Russia is not part of the EU and yet they are in the thick of things meddling in what is majorly an EU problem. The Russian interest is from all the money that's deposited from Russia in the banks of Cyprus. This saga has a lot more room to play out and if it is not contained, it has the potential to create a real ripple effect through Europe. Continue reading "Today's Video Update: March Madness may not be about basketball this year"